Question: Beale Management has a noncontributory, defined benefit pension plan. On December 31,2024 (the end of Beale's fiscal year), the following pension-related data were available: Required:

Beale Management has a noncontributory, defined benefit pension plan. On December 31,2024 (the end of Beale's fiscal year), the following pension-related data were available: Required: 1. to 3. Prepare the journal entries required for the pension during 2024 4. Determine the balances at December 31,2024 , in the net gain-AOCl, and prior service cost-AOCI. (Hint: You might find T-accounts useful.] 5. What omount will Beale report in its 2024 balance sheet as a net pension asset or net pension liability for the funded status of the plan

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